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RBI withdraws Rs 2000 notes from circulation

RBI withdraws Rs 2000 notes from circulation

The Reserve Bank of India (RBI) made an important announcement on Friday. They have decided to remove the Rs 2000 currency note from circulation. However, it’s important to note that these notes will still be considered legal and valid. If you have any existing Rs 2000 notes, you can deposit or exchange them at banks … Read more

How to File Online or physical Complaint with RBI Banking Ombudsman

Online or physical Complaint with RBI Banking Ombudsman

Have you ever had an issue with your bank that left you feeling unsatisfied with their response? It’s frustrating, to say the least. But don’t worry, you’re not powerless in this situation. Did you know that you can take your complaint to the Reserve Bank of India banking ombudsman? That’s right, the RBI has the … Read more

Govt launch special drive to detect fake GST Registrations

Govt launch special drive to detect fake GST Registrations

The Indian government is set to undertake a two-month crackdown on fraudulent practices related to the Goods and Services Tax (GST) starting May 16. The special drive aims to combat unscrupulous elements, including individuals, professionals, and firms who engage in the misuse of input tax credit by using fake identities and forged documents, all without … Read more

Tour Operators write to PM to revive India’s Tourism Industry

Tour Operators write to PM to revive India’s Tourism Industry

The President of the Indian Association of Tour Operators (IATO), Mr. Rajiv Mehra, has written a letter to the Prime Minister requesting for incentives to revive the tourism industry, which has been severely impacted by the pandemic. IATO Proposes Measures to Support Struggling Inbound Tourism Sector The IATO has proposed two solutions. These include: The … Read more

GST collection hits highest-ever monthly record in April-23

GST collection hits highest-ever monthly record in April-23

In April 2023, India’s gross GST revenues skyrocketed to a staggering ₹1,87,035 crore, marking a remarkable 12% increase from the highest tax tally recorded in the same month last year. This remarkable feat is a testament to India’s robust economic growth, fueled by various factors, including an increase in domestic consumption, a favorable global economic … Read more

GSTN launches e-invoice registration services with private IRPs

GSTN launches e-invoice registration services with private IRPs

GSTN has taken a step forward in the digitalization of business processes. It has now launched e-invoice registration services. It has been done as per the recommendation of the GST Council. E-Invoice Registration is launched in collaboration with various private IRPs. Four Private Companies Empaneled by GSTN for E-Invoice Registration Services GSTN has selected four … Read more

FSSAI notifies regulatory standards for basmati rice

FSSAI notifies regulatory standards for basmati rice

The union health ministry announced that starting from 1 August, the Food Safety and Standards Authority of India (FSSAI) will be enforcing specific identity standards for basmati rice. These regulatory standards will be comprehensive in nature. This blog aims to guide you about regulatory standards for basmati rice in depth. Comprehensive Regulatory Standards for Basmati … Read more

New Tax Calculator | Old vs New Regime Comparison

New Tax Calculator Old vs New Regime Comparison

This blog aims to guide you about the New Tax Calculator which was recently launched on the income tax portal. As a taxpayer, it is important for you to calculate your taxes in the right way. A wrong calculation can lead to pain of Income Tax Return Filing once again. It may also lead to … Read more

MSME Relaxation & Benefits in Budget 2023

MSME Relaxation & Benefits in Budget 2023

MSMEs not only generate employment, but they also support big industrial houses and other entities. Thus, it’s rightly said that the MSMEs are the backbone of industrial development in the country. In emerging economies like India, the MSME sector can account for up to 40% of the GDP. So, the importance of MSMEs in economic … Read more

CBDT Implements Stricter Audit Norms for Charitable Trusts

CBDT Implements Stricter Audit Norms for Charitable Trusts

Charitable trusts are now subject to stricter reporting regulations by the income tax authorities, requiring additional information in audit reports and placing greater responsibility on auditors. Thus, the Central Board of Direct Taxes (CBDT) has introduced changes to the audit reports for charitable trusts. Let’s understand the latest updates for Charitable trusts through this article. … Read more